Accenture deal to buy Cientra will boost tech innovation capabilities: Baird
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- Accenture’s (NYSE:ACN) proposed deal to acquire silicon design and engineering firm Cientra should continue to add to the former’s technological innovation prowess, Baird said.
- “The acquisition adds to ACN’s Advanced Technology Centers in India,” Baird analyst David Koning wrote in an investor note. “Cientra’s expertise in embedded IoT and application-specific integrated circuit design and verification abilities will enable Accenture Technology’s silicon design to further accelerate semiconductor innovation for their clients and will expand their capabilities in silicon design and engineering.”
- Koning has a Neutral rating and $345 price target on Accenture.
- In addition, the Cientra deal should add roughly 0.3% to annualized revenue, bringing Accenture’s total acquisition-related revenue to roughly 3.3% for fiscal 2024, Koning said.
- Terms of the deal, which was announced on Wednesday, were not disclosed.